Complete the following Accounting equation table.
Transaction | Assets (Rs) | = | Liabilities (Rs) | + | Capital (Rs) |
1. Started business with Cash Rs 50,000 | ? | = | ? | + | 50,000 |
2. Purchased goods of Rs 10,000 | ? | = | ? | + | ? |
3. Goods stolen Rs 1,000 | ? | = | ? | + | ? |
4. Sold goods for cash Rs 5,000 | ? | = | ? | + | ? |
5. Loan taken from Bank Rs 7,000 | ? | = | ? | + | ? |
Ans:
Transaction | Assets (Rs) | = | Liabilities (Rs) | + | Capital (Rs) |
1. Started business with Cash Rs 50,000 | 50,000 | = | 0 | + | 50,000 |
2. Purchased goods of Rs 10,000 | 50,000 | = | 0 | + | 50,000 |
3. Goods stolen Rs 1,000 | 60,000 | = | 10,000 | + | 50,000 |
4. Sold goods for cash Rs 5,000 | 59,000 | = | 10,000 | + | 49,000 |
5. Loan taken from Bank Rs 7,000 | 59,000 | = | 10,000 | + | 49,000 |
| 66,000 | = | 17,000 | + | 49,000 |